Chip,
I would not count it they way you indicated. You subdivided beat one into threes, which is not necessary. I would count the whole measure as 1 and, 2 and, 3 and, 4 and. You play one note over the 1 and, nothing on two, one note on the and of two, nothing on three, then a note that lasts from the and of 3, to the four, nothing on the and of four.

There are ways to vocalize these where you have one sound for a quarter, two tones for eighths, and a different tone for eighths that are not played. I don’t do this but it might be something like dah, um pah, um paaah. Where dah is the quarter, um is silence, pah is the eighth and paaah is the held eighth-quarter. Seems too complicated for me.

Hope this helps.
Bob

Hi Chip
This site is very useful for this sort of thing. You can add your notation, and the site does the hard bit for you.

http://www.philtulga.com/counter.html

Where there aren’t any triplets, I use the 1 and, 2 and, 3 and, 4 and method. The first note is held for “1 and”. The fret slap falls on “2” and the second note falls on it’s “and”. “3” is counted as a silent beat, and the third note falls on it’s “and”. The 4th note is played on “4”, and is followed by a silent “and”. I print out the tabs, so I often write the above style beat notation above each note. Other times I work out where the 1, 2, 3, and 4 beats fall, and highlight them with a yellow marker. Whatever works.